Current Economics
What's changed in markets since our last update on August 5 — Bank of Canada, the Fed, and inflation data have no new updates and are not repeated below.
Published 2026-08-06 · Educational information only
Markets pulled back from Wednesday's records. The Dow, S&P 500, and Nasdaq all eased Thursday as rising oil prices and Treasury yields weighed on sentiment, while the TSX slipped modestly at midday as some mining and technology shares gave back part of their recent gains.
The S&P/TSX Composite slipped 52.03 points to 36,094.39 at midday, pulling back slightly from Wednesday's record close of 36,146.42.
U.S. stocks eased from Wednesday's records: the S&P 500 fell 0.18% to 7,709.96, the Dow dropped 464.02 points (-0.85%) to 53,885, and the Nasdaq slipped 0.06% to 26,348.35, weighed down by rising oil prices and Treasury yields.
The U.S. 10-year Treasury yield rose to about 4.67%, up roughly 0.06 points from Wednesday, extending its recent climb.
The loonie was little changed, with USD/CAD trading near 1.4033.
Gold surged, opening above US$4,300 an ounce for the first time since June 17 and trading near US$4,252–4,270 as negotiations to reopen the Strait of Hormuz progressed. Oil held roughly steady, with Brent crude near US$83.64 a barrel, little changed from the prior session.
Sentiment stayed tied to progress on reopening the Strait of Hormuz, with gold, silver, and platinum all climbing even as broader equity markets took a breather after this week's rally.
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